Asia driving 'explosion' in global arms trade: study

Asian powers are outpacing the United States to become the biggest spenders on defense by 2021 and are fuelling an "explosion" in the global arms trade, a study showed. The global arms trade jumped by 30 percent to $73.5 billion between 2008-2012 in spite of the economic downturn, driven by surging exports from China and demand from countries like India, and is set to more than double by 2020, defense and security consultancy IHS Jane's said on Tuesday.

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